The [FURL=https://www.industryarc.com/Research/Neural-Network-Software-Market-Research-500899?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]global market for Neural Network Processor[/FURL] is poised to reach $95.3 million by 2026, progressing at CAGR 19.5% from 2021 to 2026. Globally, surge in demand for high-speed processors among various organizations to increase productivity and efficiency is set to be the major driver for the growth of the Neural Network Software Market. The rise in demand for smart homes, emergence of quantum computing as well as development of smart cities are some of the impacting factors that accelerate the global Neural Network Software Market.Key Takeaways
The Key players in the Neural Network Software Market are CEVA Inc, Qualcomm Inc, Intel Corporation, IBM Corporation and so on with contracts and partnerships being adopted as key strategies.
Consumer Electronics is the fastest growing segment during the forecast period 2021-2026 owing to the increase in demand of smart phones and other smart devices.
North America dominated the market with a share of 36.2% in terms of value in 2020 due to the adoption of latest technologies among organizations as well as high investment to develop new technologies.
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Neural Network Software Market Segment Analysis - by Geography
North America dominated the Neural Network Software Market with a share of 37% in 2020, owing to the significant adoption of advanced technologies across various organizations. The presence of large number of key players investing towards improved processor is also analyzed to be one of the major drivers for the growth of the market. In addition to this growing investment in AI start-up is also a driving factor for the growth of the regional market. USA and Canada are extremely well developed and highly skilled labor pool with renowned research and development institution influencing the development of new technology in this region. According to a survey conducted by Tech Nation USA made an investment of $92 billion in emerging technologies such as AI, Robotics etc that influences the market growth of neural network processor.
Neural Network Software Market Drivers
Increasing demand for smart devices and smart cities
Increase in investment in emerging technologies
Neural Network Software Market Landscape
Partnerships, acquisitions, collaboration along with product launches are the key strategies adopted by the players in the Neural Network Software Market. The top 10 companies include CEVA Inc, Qualcomm Inc, Intel Corporation, IBM Corporation, Google Inc, NVIDIA Corporation, Brainchip Holdings Limited, Advanced Microdevices Inc, Graphcore Ltd and NXP Semiconductor.
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